Hatch Conf! Sustainability1. Quiz Time!2. Reality As I See It3. Some Lessons Learned... The Hard Way4. Q & A Confidential Copyright 2008 Concursive Corporation
Quiz Question Major BusinessCompany Description Years to Exit? Reformulations to Exit? MIT graduate students;FibreSpar + 25 _________ 2 _________ Composite manufacturingUpstate VC backed; + 25 3 _________ _________Biotechnology Cell signaling products Founders; + 25 1FarmTech _________ _________ Farm suppliesThe Weather Landmark Communications 26 2-3Channel 24X7 weather information Confidential Copyright 2008 Concursive Corporation
Conclusion... and Reality“You must go through survive to get to success” Confidential Copyright 2008 Concursive Corporation
10 Ventures in 25 years...Ten Ventures Role State Financial Result1. AutoNet President Founded2. InfiNet CEO Growth3. Community Vision Chairman Start up4. TV Food Network Board of Directors Start up6. POL CEO Growth / Turnaround5. Community Interests Chairman Turnaround7. Picus President Turnaround8. EDIT CEO Turnaround9. Hospital Hub CEO Turnaround10. Concursive CEO Founded / Growth Confidential Copyright 2008 Concursive Corporation
... so What I’ve Learned1. Entrepreneurs love ideas, hate risk, yet find ways to move forward2. Creating a new market is incredibly hard3. Find pain points and solve them. People pay for problems to be fixed4. Pain a stronger motivator than opportunity -- opportunity is ambiguous5. Listen, listen, listen, listen, listen... and beware of false prophets6. Don’t ramp up when growth is from a concentrated customer base7. Don’t panic when you lose your largest customer... because you will8. Take the money! (Twice as long and twice as costly is optimistic)9. Screw dogma. Follow dollars early on, you can spin the story later10. 51% doesn’t give you “control”. Success does.11. Be committed.... and always have a “plan B” Confidential Copyright 2008 Concursive Corporation
Quiz Question #2If in the first year of your business you do $150K of revenue, what do you look like... At End of: Revenue @ 20% AGR Revenue @ 30% AGR Year 5 $310 K $530 K Year 10 $780 K $1,590 K Year 20 $4,800 K $21,930 K Year 25 $11,930 K $81,420 K Year 30 $29,670 K $302,310 K Confidential Copyright 2008 Concursive Corporation
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